\begin{tabular}{l*{3}{c}}
\toprule
            &\multicolumn{3}{c}{ $ RC\_{t}$ }       \\\cmidrule(lr){2-4}
            &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}\\
\midrule
D           &       48.28&       60.99&       57.91\\
            &      (1.30)&      (1.87)&      (1.93)\\
M           &            &      -14.18&      -11.36\\
            &            &      (1.82)&      (1.93)\\
\midrule
Time-FE     &          No&          No&         Yes\\
N           &         955&         955&         955\\
\bottomrule
\end{tabular}
